IMF praises Pakistan’s economic performance

[Omar1984]

IMF praises Pakistan’s economic performance
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* Zardari says ROZs in FATA will help generate economic activity
* PM thanks IMF for helping Islamabad overcome economic challenges

Staff Report

ISLAMABAD: Pakistan has done well despite the global recession, the war on terror and the massive displacement of people from Swat and Malakand, which impeded economic activity, head of the International Monetary Fund Mission for Pakistan, Adnan Mazarei, said on Monday. He, along with IMF Resident Representative Paul Ross had called on President Asif Ali Zardari and expressed appreciation for Pakistan’s economic performance.

He said the international community had great sympathy for the country’s problems and appreciated the major progress made by it in various ways. Briefing the media after the meeting, the president’s spokesman Farhatullah Babar said the head of the IMF mission had appreciated Islamabad’s efforts to stabilise the country’s economy.

More economic activity: The president said the establishment of Reconstruction Opportunity Zones (ROZs) in the Tribal Areas would help generate economic activity while alleviating poverty and generating employment. He also stressed the need for opening up US and EU markets to Pakistani goods.

The two men also called on Prime Minister Yousaf Raza Gilani at the PM’s House. Talking about the government’s achievements in successfully increasing the tax to GDP ratio from 8.8 to 10.6 percent in one year, the PM expressed his firm commitment to enhance the ratio to 15 percent over the next five years by broadening the tax base.

The prime minister expressed satisfaction with the overall economic situation in the country, saying that all economic indicators had started showing positive trends after the government’s timely intervention and the introduction of corrective measures.

Help appreciated: While appreciating the IMF for its help in substantiating Islamabad’s efforts in overcoming economic challenges, Gilani told Mazarei about his government’s approach to address the country’s problems including poverty, the power shortage, limited access to public services and extremism through a combination of administrative, political and security measures.

 

[Silverfalcon]

@ Omar1984

What are your views on the IMF ? Do you think they just give loans because they actually care about Pakistan ?

 

[LiberalPakistani]

@ Omar1984

What are your views on the IMF ? Do you think they just give loans because they actually care about Pakistan ?

We have make the biggest mistake of our life getting loan from IMF we should have gone bankrupt its just another fatal mistake.

 

[Omar1984]

@ Omar1984

What are your views on the IMF ? Do you think they just give loans because they actually care about Pakistan ?

If you read the article, you will understand that Pakistan's economy is improving, thats one of the most important thing Pakistan needs, a growing economy.

Although I dont think we should continue taking loans from IMF, but one thing you have to understand about these loans is that they are not gifts Pakistan has to pay them back with interst.

As the founder of our nation, Quaid-e-Azam Muhammad Ali Jinnah once said, "My message to you all is of hope, courage and confidence. Let us mobilize all our resources in a systematic and organized way and tackle the grave issues that confront us with grim determination and discipline worthy of a great nation."

Pakistan has all the resources and there should be no need for IMF loans.

 

[Silverfalcon]

IMF wants Pakistan to take loan, giving loan to a country is one of the easiest ways you can make it a slave.
The IMF conditions are just horrific.
I don't think Pakistan's economy has improved by any stretch of the imagination.
Since taking loans from IMF it has gone 10 steps backward.
Some Body has to take stand here and tell IMF to "GET LOST"